Res 860 10/15/1968RESOLUTION NO.
WHEREAS, the City of Wichita Falls has negotiated a sale
to Wichita County-City of Wichita Falls, Texas, Hospital Board
of all of Block 257 of the original town of Wichita Falls, save
and except Lot 2 of the replat of Lots 1 through 6 of such Block
257 for a price of Four Hundred Thousand ($400,000.) Dollars,
for which such Hospital Board shall execute a promissory note
in that amount payable to the order of the City of Wichita Falls,
which shall be secured by a vendor' s lien and a deed of trust;
and,
WHEREAS, the City of Wichita Falls plans to sell such note,
together with the vendor' s lien and deed of trust, to The First-
Wichita National Bank of Wichita Falls. The contract between
the City and such Bank shall provide that the assignment of the
note is with recourse; that is, the City shall remain secondarily
liable on the note, and shall indemnify such Bank from any loss
on the note. Such contract shall continue for no more than (10)
years.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN
OF THE CITY OF WICHITA FALLS, TEXAS, THAT:
In accordance with Section 103 of the Charter of the City of
Wichita Falls, public notice is hereby given that, at the meeting
of the Board of Aldermen on November 5th, 1968, the Board of
Aldermen will consider the adoption of a resolution authorizing
such continuing contract with The First-Wichita National Bank of
Wichita Falls. In the alternative, in the event the sale is not
consummated, the Board of Aldermen will consider at that meeting
the adoption of an ordinance authorizing a temporary loan in the
amount of Four Hundred Thousand ($400,000. ) Dollars in renewal
and extension of a temporary loan in that amount heretofore made
by the City, inaaccordance with Section 100 of the charter of
said City.
PASSED AND APPROVED this the /...day of October, 1968.
S
MAYOR
ATTEST:
4f-io
CITY CLERK
4.lla c/v o.. ,rte 1.6c,
4'
4 1 } Falls Affidavit of Publicationwt _ .J:ounty-
City of WI a lospital
Board of all of Block 257 of the original
town of Wichita Falls save and except
Lot 2 of the raplat of Lots 1 through 6 of THE STATE OF TEXASsuchBlock257forapriceofFourHun-
dred Thousand a Dollars, for
COUNTY OF WICHITAwhichsuchHospittallBoardBoardshallexecute
a promissory note in that amount payable
to the order of the.City of Wichita Falls,which shall be secured by a vendor's lien ere
and a deed of trust; and,NovemberWHEREAS, the City of Wichita Falls ti.is
First day ofplanstosellsuchnote, together with the
vendor's lien and deed of trust, to The
First-Wichita National Bank of Wichita!
Falls. The contract between the City and, A.D. 1968 personally appeared before me, the undersigned authoritysuchBankshallprovidethattheassign-I pe Y ppe
mint of the note it with recourse; that
is, the City shall remain secondarily
liable on the note and shall Indemnify Katherine Parrish bookkeeper
such Bank from any loss on the note.
Such contract shal continue for no more
than (10) years.
NOW, THEREFORE, BE IT RESOLV- for the Times Publishing Company of Wichita Falls, publishers of theEDBYTHEBOARDOFALDERMEN
OF THE CITY OF WICHITA FALL-5,1
TEXAS, THAT: Wichita Falls Record News, a newspaper published at Wichita Falls inInaccordancewithSection103ofthe
Charter of the City of Wichita Falls,
public notice Is hereby given that, et the Wichita County, Texas, and upon being duly sworn by me, on oath statesmeetingoftheBoardofAldermenonNo- g y y
vember 5th, 1968, the Board of Aldermen
will consider the adoption of a resolution that the attached.advertisement is a true and correct copy of advertisingauthorizingsuchcontinuingcontractwith
The First-Wichita National Bank of Wi-
chita Falls. In the alternative, in the
event the sale is not consummated, the published in_. 1 issues thereof on the following
Board of Aldermen will consider at that
meeting,the-adoption of an ordinance au-
thorizing a temporary loan In the amount dates:
of slrHeanef'Dollars In d extension o a October 19. 1968
temporary loan in that amount heretofore
made by the City, In accordance with 7
Section 100 of the charter.of said City.
PASSED AND APPROVED this the 15th
day of October, 1968. S-Kenneth Hill, Q."" `"—
City
ATTEST: s•wnma J. Thomas,
Clerk Bookkeeper for Times Publishing Company
of Wichita Falls
Subscribed and sworn to before me this the day and year first above
SEAL) written.
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